PMI edges up to 51 marking 13th month of expansion
It is the highest reading since July 2021.
Singapore's Purchasing Managers’ Index (PMI) rose by 0.1 point in September to 51, marking the 13th consecutive month of expansion for the manufacturing sector.
The Singapore Institute of Purchasing and Materials Management attributed this to faster expansion in key indexes such as new orders, new exports, factory output, and employment.
Expansion rates also increased for finished goods, imports, input prices, order backlog, and future business. The order backlog index recorded 16 consecutive months of growth, while the future business index posted its 15th consecutive month of expansion
However, both the input purchases and supplier deliveries indexes recorded slower rates of expansion.
“The overall manufacturing sector has ended the third quarter with a continuous expansion, boosted by a firm recovery of the electronics sector,” Stephen Poh, Executive Director of SIPMM, said.
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